Daewoo International pledges extra investment in Uzbek textiles

South Korea’s Daewoo International is investing US$22m in the expansion of production at two textile factories in Uzbekistan. A memorandum of understanding on the expansion and modernisation of existing production at Daewoo Textile Fergana and Daewoo Textile Bukhara was signed between Uzbeklegprom and Daewoo International at a recent Uzbek-Korean business forum.

Daewoo Textile Fergana and Daewoo Textile Bukhara will invest US$12m of their own funds in 2014-15 to increase spinning capacity to 4,000 tonnes, and in 2016-17 will spend another US$10m for the modernisation and expansion of the facilities.

For the full story, see the August 2014 edition of Textiles Eastern Europe. Not a subscriber? Sign up HERE